Swedbank AB Purchases 127,126 Shares of EOG Resources, Inc. (NYSE:EOG)

Swedbank AB grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 132.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,432 shares of the energy exploration company’s stock after buying an additional 127,126 shares during the quarter. Swedbank AB’s holdings in EOG Resources were worth $27,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caprock Group LLC boosted its position in EOG Resources by 7.7% in the third quarter. Caprock Group LLC now owns 12,112 shares of the energy exploration company’s stock worth $1,489,000 after purchasing an additional 862 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EOG Resources by 3,976.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 10,885 shares of the energy exploration company’s stock worth $1,370,000 after buying an additional 10,618 shares during the last quarter. KBC Group NV grew its position in EOG Resources by 11.4% during the third quarter. KBC Group NV now owns 119,132 shares of the energy exploration company’s stock valued at $14,645,000 after buying an additional 12,210 shares during the period. Sequoia Financial Advisors LLC increased its holdings in EOG Resources by 44.2% during the third quarter. Sequoia Financial Advisors LLC now owns 10,603 shares of the energy exploration company’s stock worth $1,303,000 after buying an additional 3,251 shares during the last quarter. Finally, Tidal Investments LLC raised its position in EOG Resources by 13.3% in the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock worth $6,518,000 after acquiring an additional 5,972 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insiders Place Their Bets

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $131.98 on Tuesday. The stock has a market cap of $74.23 billion, a P/E ratio of 10.63, a PEG ratio of 3.62 and a beta of 1.28. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $128.16 and its two-hundred day moving average price is $126.16. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources announced that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a yield of 2.95%. EOG Resources’s payout ratio is presently 29.31%.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Truist Financial raised their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $144.00.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.